Offset Mortgage

An Offset Mortgage can be a viable route for homeowners that want more control over their money. They can 'offset' any balances in their current accounts or savings accounts and use this to pay their outstanding mortgage balance, paying an interest charge on the remaining difference.

This option allows people to lower the level of interest they will repay, although it will not be possible to earn any additional interest on future balances. With an Offset Mortgage arrangement, homeowners may either keep their existing mortgage repayment plan and complete their repayments early or reduce their monthly repayments by letting their mortgage run at the original term.

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